U.S. Postal Service Predicts
Smaller Loss in Fiscal Year

Dow Jones Newswires

Updated Sept. 6, 2002 8:21 p.m. ET

WASHINGTON -- The U.S. Postal Service expects to finish this fiscal year with a loss of $1.2 billion, slightly less than the agency anticipated, and expects a profit for the next fiscal year, Postmaster General John Potter said Friday.

The agency had anticipated a loss of $1.35 billion for the fiscal year that ends Sept. 30. Mr. Potter attributed the improvement to aggressive cost-cutting by the agency.